Key Points
- Director Rajesh Kalathur purchased 2,829 American Tower shares at an average price of $177, investing $500,733 and increasing his ownership by 57.31% to 7,765 shares.
- American Tower reported quarterly EPS of $2.71, beating estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $215.29, while institutional investors own 92.69% of the company.
American Tower Corporation (NYSE:AMT - Get Free Report) Director Rajesh Kalathur purchased 2,829 shares of the business's stock in a transaction on Friday, August 21st. The shares were acquired at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the transaction, the director owned 7,765 shares of the company's stock, valued at approximately $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
American Tower Trading Up 0.2%
NYSE AMT opened at $178.66 on Wednesday. The firm has a market cap of $83.25 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $209.10. The stock has a 50-day moving average of $171.00 and a 200-day moving average of $177.83. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.American Tower's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.8 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Scotiabank reissued an "outperform" rating on shares of American Tower in a report on Wednesday, July 29th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, TD Cowen increased their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.29.
Get Our Latest Stock Report on AMT
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Riverwater Partners LLC increased its stake in American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock worth $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management lifted its stake in American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its stake in American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Asset Advisory Group Inc. boosted its holdings in shares of American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock worth $358,000 after buying an additional 60 shares during the period. Finally, Argent Advisors Inc. boosted its holdings in shares of American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust's stock worth $1,163,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.
American Tower Company Profile
(
Get Free Report)
American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company's core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.
Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
